Huobi and Poloniex to Cooperate on HT Coin Development
The exchanges will cooperate in the development of HT coin, share liquidity and compliance globally, and Huobi will monitor Poloniex for new projects to list.
The strategic partnership between Huobi and Poloniex is a positive development for the cryptocurrency industry. The two exchanges are leaders in their respective fields, and their combined resources will only make them stronger. This partnership will no doubt benefit both exchanges and their users.
The cooperation between the two exchanges will help to develop Huobi's HT coin ecosystem, improve connectivity and liquidity, and ensure compliance with global regulations. The Huobi Advisory Board will evaluate Poloniex projects on a monthly basis, with the best performers potentially being directly listed on Huobi. This will help to improve the quality and visibility of projects on Poloniex and attract more users to the exchange.
The talk of a merger between Wu Blockchain and Poloniex has gotten many people in the cryptocurrency community excited. If the two exchanges were to merge, it would create a powerhouse in the industry. Poloniex is by far the larger of the two exchanges, and with Wu Blockchain's technology, the new entity would be a force to be reckoned with.
The Poloniex exchange, which Justin Sun acquired from Circle in 2019, will merge with his recently acquired Huobi exchange, according to sources familiar with the matter. Coingecko shows that Poloniex's daily spot trading volume is only 1/10 of Huobi's. Exclusive— Wu Blockchain (@WuBlockchain) November 25, 2022
Despite a number of changes this year, the Chinese exchange Huobi remains a major player in the global market. Its investment arm has been active this year, and despite reports of cofounder Leon Li selling his share, the company remains strong. In October, Hong Kong-based About Capital bought a controlling share in Huobi, and the company has denied reports of widespread layoffs and resignations earlier this month. With a strong presence in the market, Huobi is poised to continue its success in the coming year.
Huobi, one of the world's leading cryptocurrency exchanges, is reportedly planning to relocate its headquarters to the Dominican Republic. The move would come as the Dominican Republic looks to position itself as a leading destination for blockchain and cryptocurrency businesses.
Poloniex and @HuobiGlobal Advisory Board will assess all Poloniex-based projects on a monthly basis. Projects that stand out will have the chance to be listed on Huobi and receive support from both platforms, reaching tens of millions of users. https://t.co/VqdGdbQq4h— Poloniex Exchange (@Poloniex) November 30, 2022
As Huobi looks to expand its reach through a merger with another cryptocurrency exchange, it is also upgrading its affiliates program to attract more influencers. Under the new program, Spot commission will be up to 50% and futures commission up to 60%. This move signals Huobi's commitment to growing its business and attracting new users.
I believe that the digital identity program that Dominica is working on with Huobi will be a great success. This will help to bring more transparency and accountability to the financial system, and will help to protect consumers from fraud and identity theft.
This is a positive development for the crypto industry. The SEC has taken action against a company that was allegedly selling unregistered securities, and this will help to create a level playing field for all participants in the industry. Congressman Brad Sherman's criticism of the SEC's action against Polonium is unfounded, and it is good to see that the agency is willing to go after companies that violate the law. South Korean regulators' decision to block Polonium is understandable, given the company's alleged wrongdoing.